Comerica Bank cut its position in Cemex SAB de CV (NYSE:CX) by 8.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,739 shares of the construction company’s stock after selling 8,520 shares during the quarter. Comerica Bank’s holdings in Cemex SAB de CV were worth $428,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Covenant Multifamily Offices LLC bought a new position in Cemex SAB de CV in the first quarter valued at about $29,000. Nuveen Asset Management LLC bought a new stake in shares of Cemex SAB de CV during the fourth quarter worth about $50,000. Paloma Partners Management Co bought a new stake in shares of Cemex SAB de CV during the fourth quarter worth about $57,000. Quantamental Technologies LLC bought a new stake in shares of Cemex SAB de CV during the first quarter worth about $66,000. Finally, Capstone Financial Advisors Inc. bought a new stake in shares of Cemex SAB de CV during the fourth quarter worth about $72,000. 32.28% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently commented on CX shares. Morgan Stanley lowered Cemex SAB de CV from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $8.00 to $5.50 in a research note on Monday, April 29th. Goldman Sachs Group started coverage on Cemex SAB de CV in a research report on Wednesday, April 10th. They set a “neutral” rating and a $5.50 target price on the stock. Zacks Investment Research raised Cemex SAB de CV from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Finally, ValuEngine upgraded Cemex SAB de CV from a “strong sell” rating to a “sell” rating in a report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $7.50.
Cemex SAB de CV (NYSE:CX) last released its quarterly earnings results on Thursday, April 25th. The construction company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.06). Cemex SAB de CV had a net margin of 3.97% and a return on equity of 4.41%. The business had revenue of $3.24 billion during the quarter. Equities analysts predict that Cemex SAB de CV will post 0.43 earnings per share for the current year.
The firm also recently disclosed an annual dividend, which was paid on Tuesday, June 18th. Stockholders of record on Friday, June 14th were given a $0.0499 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a dividend yield of 1.22%. Cemex SAB de CV’s dividend payout ratio is currently 14.29%.
Cemex SAB de CV Company Profile
CEMEX, SAB. de C.V., together with its subsidiaries, produces, markets, distributes, and sells cement, ready-mix concrete, aggregates, clinker, and other construction materials. The company also offers various complementary construction products, including asphalt products; concrete blocks and roof tiles; architectural products; concrete pipes for storm and sanitary sewers applications; and other precast products comprising rail products, concrete floors, box culverts, bridges, drainage basins, barriers, and parking curbs.
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